Tucson, AZ, August 16, 2023 - Fidotek Corp, a leading Next-Gen AI company, is delighted to announce its certification by the Arizona Commerce Authority as a Bioscience Small Business under the Small Business Capital Investment Incentive (Angel Investment) program.
The primary aim of the Angel Investment program, as established by A.R.S. § 41-1518, is to foster early stage investments in targeted Arizona small businesses. This initiative offers tax credits to investors who invest in small businesses certified by the Arizona Commerce Authority (ACA).
Fidotek is a pioneering force in the $120B pet industry, holding a patent leadership position. Powered by proprietary extensive pet data, its Next-Gen AI platform stands as the industry's inaugural solution poised to initiate digital transformation across a range of product and service verticals. These encompass pet product retail (the #1 E-commerce CPG), veterinary wellness, remote diagnostics and veterinary telemedicine, and real-time in-field clinical trials to expedite the development and testing of novel pet drugs, therapeutics, and pet food.
The company has recently expanded its growing pet data partnership with the University of Arizona College of Veterinary Medicine (Oro Valley) by welcoming the first four doctoral candidates. This move bolsters its founding team's pet data expertise. While still in development, the company has refrained from disclosing specific details regarding its technologies or revenue models.
Andy Gibbs, CEO, stated, “Over 360 Generative AI startups have raised $14B to compete for a share among 200 million adults. In contrast, we are the IP leader in an almost unexplored realm, targeting America’s 90 million dogs with a cutting-edge AI platform founded on exclusive pet data. The tax credits afforded by our ACA certification have already drawn new angel investors beyond Tucson, extending our reach into the more active angel investor and venture capital communities in the greater Phoenix metro.”
In Arizona’s Angel Investment program, investors can claim tax credits up to 35% of the investment amount by documenting their investments in certified small businesses: 1st Year Credit: 12% of the investment; year 2: 12%; year 3: 11%.
Additionally, Arizona offers the exemption of capital gains tax on income derived from investments in companies certified by ACA (A.R.S. § 43-1022).Contacts:
Qualified investors interested in learning more about current SAFE and Series A investment opportunities in Fidotek may contact Andy Gibbs, founder and CEO.
For more information on ACA investment incentives for Angel Investors, contact the Arizona Commerce Authority.
Contact
Fidotek Corp
Andy Gibbs
520-415-3600
www.fidotek.com
